Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:13 AM

GasBuddy News Article

57
votes
Loan rates remain low for new vehicles

GasBuddy Blog -- If you're looking to buy a car soon, you may have a good reason to do it: loan rates continue to hover near lows for new vehicle purchases, according to Bank Rate.

If you're trying to resist buying, you may be finding it hard. Many major manufacturers aired ads during the Super Bowl, and many banks continue to offer attractive loan options for 48 and 60-month loans.

Credit unions have been seen offering some of the most attractive loan rates compared to big banks, with some offering incentives like gift cards or other gifts for signing or transferring a loan. In fact, according to NCUA.gov, credit unions often have better loan rates. In June, 2012, for example, the average 48 month new car loan at a credit union was 3...


Read the Full Article

Submitted Feb 07, 2013 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Loan rates remain low for new vehicles Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
moose21040
Veteran Author Baltimore

Posts:256
Points:367,240
Joined:Jan 2011
Message Posted: Feb 18, 2013 1:10:04 PM

That's nice to know. But no thank you
Profile Pic
musicreporter
All-Star Author San Antonio

Posts:966
Points:569,140
Joined:Dec 2012
Message Posted: Feb 12, 2013 12:26:24 PM

tough
Profile Pic
USMCturtlehead
Champion Author Lexington

Posts:743,020
Points:715,675
Joined:Feb 2013
Message Posted: Feb 12, 2013 11:55:59 AM

Loan rates may be low but cost savings are better if you can afford to pay cash.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,985
Points:2,221,965
Joined:Nov 2008
Message Posted: Feb 10, 2013 7:01:58 AM

no plans to buy a new vehicle any time soon
Profile Pic
moose21040
Veteran Author Baltimore

Posts:256
Points:367,240
Joined:Jan 2011
Message Posted: Feb 10, 2013 3:20:51 AM

NO new car for me
Profile Pic
LuckyLou1
Champion Author Colorado

Posts:3,085
Points:791,285
Joined:Oct 2012
Message Posted: Feb 9, 2013 4:45:45 PM

Don't want any new debt unlike the Federal government
Profile Pic
minookaband
Champion Author Illinois

Posts:1,685
Points:508,510
Joined:Dec 2012
Message Posted: Feb 9, 2013 1:02:40 PM

I have not bought a new vehicle in 9 yrs and do not plan on purchasing anytime soon.
Profile Pic
csblesson
Champion Author Texas

Posts:3,678
Points:925,545
Joined:May 2012
Message Posted: Feb 8, 2013 8:51:46 PM

They want us buy vehicles every year?
Profile Pic
Ken2OD
Champion Author Grand Rapids

Posts:11,679
Points:2,580,620
Joined:Dec 2005
Message Posted: Feb 8, 2013 5:26:13 PM

I have always bought pre-owned cars. I either paid cash or borrowed from the Credit Union. I bought my first car (a '49 Olds Torpedo-back) for $50 in 1958 or 1959. I drove it for 3 years and traded it in for $80 on a '56 Ford Fairlane. Now that I am getting closer to 80 years old, I might just buy a new car. But, I'll still go through the credit union.
Profile Pic
goldrose1
Champion Author Cleveland

Posts:13,579
Points:2,512,240
Joined:Feb 2005
Message Posted: Feb 8, 2013 3:50:32 PM

more
Profile Pic
LongPlay
Champion Author Albuquerque

Posts:6,532
Points:1,801,530
Joined:May 2008
Message Posted: Feb 8, 2013 3:19:00 PM

No cars on my list. I usually only buy cars when cars have over 100000 miles and my 10 yr old car is still well below that!
Profile Pic
Cheepo
Champion Author Tampa

Posts:12,448
Points:3,727,670
Joined:Apr 2003
Message Posted: Feb 8, 2013 2:54:51 PM

No new car for me!!!!!!
Profile Pic
cricket48750
Champion Author Michigan

Posts:1,174
Points:613,360
Joined:May 2011
Message Posted: Feb 8, 2013 2:27:15 PM

Who can afford a new car?
Profile Pic
DrCashFlow
Champion Author Massachusetts

Posts:9,577
Points:2,220,760
Joined:Jun 2008
Message Posted: Feb 8, 2013 1:47:56 PM

Next bubble coming up
Profile Pic
snappytom2
Champion Author Corpus Christi

Posts:5,722
Points:384,925
Joined:Jul 2008
Message Posted: Feb 8, 2013 11:52:05 AM

Don't go into the water. The loan sharks are circling.
Profile Pic
drillintheUSA
Champion Author Rochester

Posts:6,676
Points:765,115
Joined:Apr 2008
Message Posted: Feb 8, 2013 11:44:15 AM



Luv2ride33: +1
Profile Pic
dacofa
Champion Author Nevada

Posts:5,551
Points:1,225,730
Joined:Jan 2010
Message Posted: Feb 8, 2013 11:28:09 AM

Shows how many years they ripped us off.
Profile Pic
BigKart
Champion Author Indianapolis

Posts:2,155
Points:750,410
Joined:Apr 2011
Message Posted: Feb 8, 2013 11:25:08 AM

During a recent purchase, 1.74% was available for up to 75 months... not that anyone would want to pay for a car for 75 months!
Profile Pic
CptnCanada
Champion Author Saskatoon

Posts:9,086
Points:1,351,655
Joined:Jun 2008
Message Posted: Feb 8, 2013 11:13:34 AM

If you are buying a new car just to save at the pump it is false economy. The interest the bank charges will be more per month than you could ever save at the pumps.
Profile Pic
Harry813
Champion Author Iowa

Posts:4,724
Points:1,220,595
Joined:Jul 2011
Message Posted: Feb 8, 2013 11:05:18 AM

No plans for a new one....
Profile Pic
crashintuc34
Champion Author Tucson

Posts:5,707
Points:1,146,235
Joined:May 2010
Message Posted: Feb 8, 2013 11:04:28 AM

Need to buy one soon.
Profile Pic
radiorumor
Champion Author Texas

Posts:5,310
Points:1,357,225
Joined:Feb 2011
Message Posted: Feb 8, 2013 11:04:02 AM

The last three I've paid cash
Profile Pic
Bud122CA
Champion Author California

Posts:9,592
Points:2,184,395
Joined:Jul 2008
Message Posted: Feb 8, 2013 11:03:34 AM

Who can afford new cars when we can't buy medicine and make house payments?
Profile Pic
Luv2ride33
Sophomore Author Tennessee

Posts:149
Points:142,885
Joined:Jul 2012
Message Posted: Feb 8, 2013 11:01:53 AM

I would rather pay cash and avoid finance charges.
Profile Pic
FlyNFool
Champion Author South Carolina

Posts:10,788
Points:2,292,520
Joined:Aug 2008
Message Posted: Feb 8, 2013 11:00:58 AM

old news
Profile Pic
jpj23
Champion Author Los Angeles

Posts:7,182
Points:1,446,575
Joined:Jul 2008
Message Posted: Feb 8, 2013 11:00:08 AM

Old news story. How about some news that new?
Profile Pic
RochBear
Champion Author Minnesota

Posts:11,499
Points:2,011,200
Joined:May 2006
Message Posted: Feb 8, 2013 10:59:04 AM

I'd still rather pay cash. Interest rates are low, but why pay interest?
Profile Pic
geoutpb
Champion Author Midland Odessa

Posts:7,055
Points:1,626,845
Joined:Dec 2006
Message Posted: Feb 8, 2013 10:58:58 AM

Use other peoples money.
Profile Pic
smgrb2012
Sophomore Author Illinois

Posts:178
Points:123,260
Joined:Mar 2012
Message Posted: Feb 8, 2013 10:57:05 AM

Good news
Profile Pic
Sam195
Champion Author San Bernardino

Posts:10,645
Points:2,168,505
Joined:Oct 2008
Message Posted: Feb 8, 2013 10:56:14 AM

Rates are low but the prices are crazy high because of all the electronic junk on the new vehicles.
Profile Pic
sciotosix
Champion Author Dayton

Posts:5,371
Points:1,278,575
Joined:Apr 2011
Message Posted: Feb 8, 2013 10:55:43 AM

I took advantage when they offered 0% rate....can't get any lower than that.
Profile Pic
DimitrisIL
Champion Author Chicago

Posts:2,194
Points:937,985
Joined:Feb 2011
Message Posted: Feb 8, 2013 10:55:11 AM

Good incentives. They make financing easy when they need to sell cars.
Profile Pic
donny47
Champion Author New Hampshire

Posts:5,006
Points:1,540,030
Joined:Feb 2009
Message Posted: Feb 8, 2013 10:54:36 AM

thats why interest rates on savings and other investments are so low.socialism!!!!!!!!!!!!!!!!!!!!!!!!!or communism!!!!!!!!!!!!!!!
Profile Pic
Holly123
Champion Author Charlotte

Posts:5,487
Points:1,381,735
Joined:Dec 2010
Message Posted: Feb 8, 2013 10:54:12 AM

Yesterday's news
Profile Pic
gumbyrex
Champion Author Fresno

Posts:5,906
Points:1,370,205
Joined:Mar 2011
Message Posted: Feb 8, 2013 10:51:35 AM

Loan rates on cars and houses are low, but you still need the cash to make the payments. With living expenses increasing, unemployment and underemployment still a problem, finding additional funds is tough for some consumers no matter how low the interest rate.
Profile Pic
Discovery02
Champion Author Colorado Springs

Posts:7,520
Points:905,220
Joined:May 2012
Message Posted: Feb 8, 2013 10:50:22 AM

When you do have money, rates are high. When you don't have money, rates are low. Go figure.
Profile Pic
dollarwatcher
Champion Author Wisconsin

Posts:9,932
Points:2,000,000
Joined:Mar 2007
Message Posted: Feb 8, 2013 10:50:17 AM

I have one payment left on my used 04 Blazer and then I'll invest in beer.
Profile Pic
kuma2000
Champion Author Honolulu

Posts:5,942
Points:1,280,475
Joined:Jun 2011
Message Posted: Feb 8, 2013 10:48:36 AM

I'm shopping for a new vehicle - better check with my credit union.
Profile Pic
NanookAK
Champion Author Anchorage

Posts:9,994
Points:2,052,365
Joined:Nov 2007
Message Posted: Feb 8, 2013 10:48:16 AM

Soon, we will have to take out loans to buy gas.
Profile Pic
forderjunk
Champion Author Maine

Posts:10,656
Points:2,188,895
Joined:Sep 2005
Message Posted: Feb 8, 2013 10:47:42 AM

still too expensive
Profile Pic
iFueler
Champion Author Durham

Posts:75,098
Points:788,150
Joined:Nov 2012
Message Posted: Feb 8, 2013 10:44:13 AM


        good for some folk
Profile Pic
drillintheUSA
Champion Author Rochester

Posts:6,676
Points:765,115
Joined:Apr 2008
Message Posted: Feb 8, 2013 10:42:28 AM

as they should be! The Banksters are paying us NOTHING for real deposits nowadays.

"The most powerful force in the Universe is Compound Interest*"
- Albert Einstein

*What happened to it??
Profile Pic
TTM77
Champion Author Maryland

Posts:2,564
Points:1,366,980
Joined:Apr 2005
Message Posted: Feb 8, 2013 10:42:23 AM

low all they want, I have no money.
Profile Pic
Rhino8of8
Champion Author Wisconsin

Posts:2,819
Points:901,870
Joined:Jan 2012
Message Posted: Feb 8, 2013 10:39:55 AM

Rather just keep my "paid off" vehicle.
Profile Pic
tpguess
Champion Author San Diego

Posts:3,811
Points:926,535
Joined:Jan 2012
Message Posted: Feb 8, 2013 10:38:53 AM

Get rid of Obama... and get people back to work... that will sell cars
Profile Pic
RitaVespa
Champion Author Oregon

Posts:4,089
Points:1,332,505
Joined:Jan 2011
Message Posted: Feb 8, 2013 10:38:51 AM

Nope. Too expensive
Profile Pic
traumer
Champion Author Twin Cities

Posts:8,034
Points:1,945,080
Joined:Aug 2006
Message Posted: Feb 8, 2013 10:35:23 AM

I still won't buy a different car until mine dies and then it will be a 4 year old used car.
Profile Pic
KillChain
Champion Author Albuquerque

Posts:5,985
Points:2,087,645
Joined:Jun 2006
Message Posted: Feb 8, 2013 10:34:55 AM

GB Blog,thanks for the post.
Profile Pic
Digger52
Champion Author Chicago

Posts:4,879
Points:1,451,130
Joined:Aug 2008
Message Posted: Feb 8, 2013 10:34:47 AM

All loan rates are low. . . .don't see car prices coming down, tho
Profile Pic
HideMKE
Champion Author Milwaukee

Posts:2,550
Points:601,425
Joined:Mar 2012
Message Posted: Feb 8, 2013 10:34:29 AM

good
Post a reply Back to Topics